Anonymous Banking and eCash Services - How can this be?

I've often receive many questions in regards to how it is possible for any eCurrency service to provide anonymous online e-currency accounts and what are the financial or legal risks involved. These are definitely valid and legitimate concerns, so I thought I would take a minute to share my answer with the people of the forum.

Let's start with the "Anonymous Banking" question. How is it possible for anyone to provide Anonymous Online Banking Services without coming to the mercy of federal financial regulations? Simple... They buy and sell eCurrency. eCurrency is a privately created item and IS NOT manufactured or regulated by the Federal Reserve. eCurrency does not enter into the market place of "Hard Money" and therefore, the same Laws and Regulations, which apply to "Hard Money", simply do not apply to eCurrency.

KYC, an acronym for "Know Your Customer" is a professional short form for a Due Diligence process that is legally required to establish the identity of a customer or beneficial owner and strictly applies to financial institutions, such as banks. Anonymous eCurrency Services are not actually financial insitutions in themself, but a buyer and seller of eCurrency... a product. With that being said, KYC is not a requirement of a merchant who is buying and selling a product. This is how such "Anonymous" eCurrency providers are able to provide you with anonymous eCurrency solutions.

Now lets talk about your personal security and safety of your money. Many people ask if their funds are FDIC insured with such "Anonymous" eCurrency providers. Simply put, no they are not FDIC insured and here is why. It is impossible for your funds to be FDIC insured with ANY instituion and still maintain any level anonymous status, for one simple fact. FDIC is an acronym for "Federal Deposit Insurance Corporation". They only insure funds which are printed and regulated by the federal reserve... not eCurrency. If you want to have your funds FDIC insured, simply put, you have deposit and transfer them through a standard bank account, which will not allow you to remain anonymous.

There are no Online Payment Processors out there who are FDIC insured. Many of them will pool your money into an FDIC insured bank account, which still falls under the mercy of regulatory government laws, which still allow your funds to be at risk of being seized or frozen. So, your risk is really no higher with anyone who claims to be Anonymous than with one who claims to be KYC compliant.... KYC, wooo hoo... just lets the government delve even deeper into our personal lives.

So is your money really safe with these processors? It simply wouldn't do any of them justice to run away with any amount of money and then close their doors, when they can continue to reap the benefits of an ongoing cash flow.

It is understandable that you may be skeptical in trusting your funds with any company who claim to provide "Anonymous" financial services, especially with all the current hype around "Anonymous Online Banking", but the trust has to start some where. The best that I can recommend, to build up our trust is to simply try them out with a small amount of money and see how convenient and reliable their service actually is.

Honestly, I'd be more willing to try out a newer "Anonymous" company than I would be with some anal outfit like paypal... they freeze funds all the time. I've honestly come across a couple REALLY good providers of anonymous eCurrency solutions, but, Im not here to spam... just wanted to give everyone my take on the situation... and i did research the laws, so I have atleast some idea of what Im talking about....

"There are no Online Payment Processors out there who are FDIC insured. Many of them will pool your money into an FDIC insured bank account, which still falls under the mercy of regulatory government laws, which still allow your funds to be at risk of being seized or frozen. At eNumbered, your funds will be directly transferred into Gold Bullion, which is physically stored in vaults. In the highly unlikely event that our account ever got shut down, your original funds are still safe and secure."

If you can deliver your stored vault gold to my doorstep then yeah you got a good thing, but if you can (which I suspect is the case) then you are just as unsafe then the professional crooks, even more so.

Of course you think it will get taken down soon.... it's only human nature to be afraid of what we don't understand. That's one thing that i find about this forum, is whenever a new theory or idea is presented, people panic and start shooting it down... it's actually kind of amusing...

Every official banking system in the world is now digitized, storing your deposits as 1's and 0's, backed by nothing (fiat currency). So in that respect all financial accounts are equally shaky. The big institutions put on a better show of security with their lofty buildings and global branding, but in the end it's still just 1's and 0's in the ether.

It will only take one serious "bank holiday" where the major banks freeze ALL deposits and ATMs to get the mass public to see how ephemeral their hold on their funds really is. Kudo's to the OP (despite plugging his service) for explaining how the market demand and need for an anonymous alternative is sound and prudent.

Of course you think it will get taken down soon.... it's only human nature to be afraid of what we don't understand. That's one thing that i find about this forum, is whenever a new theory or idea is presented, people panic and start shooting it down... it's actually kind of amusing...

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Dont give me this, you dont know who you are talking too. Not a threat, I mean in the sense I'm not the person you described. Or in an attacking manner tried to make me out to be.

You still didn't answer the question.

Can you deliver physical gold as requested?

So why did you attack me and dodge the question?

I said it would be deleted because you are blatantly plugging your shit with an account that is DAYS OLD w/ 3 POSTS. Likely to be deleted is all I was saying.

Me deliver gold? No.... Im not the site mentioned.... it was simply a quote that i grabbed from a site.... however, you must forgive my grammar and punctuation, your majesty and i forgot to put the " " around the quote... but sure, if you want to take that route... YES... they do deliver the gold hahaha.... I wouldn't have quoted their site if they didn't.

Sure... I think I know exactly who im dealing with. It sounds like im dealing with one of those guys who live in the forum 24/7 and feel the obligation to attack other people, because they have some delusion about ruling the online world or something.... correct me if I'm wrong.

Let's start with the "Anonymous Banking" question. How is it possible for anyone to provide Anonymous Online Banking Services without coming to the mercy of federal financial regulations? Simple... They buy and sell eCurrency. eCurrency is a privately created item and IS NOT manufactured or regulated by the Federal Reserve. eCurrency does not enter into the market place of "Hard Money" and therefore, the same Laws and Regulations, which apply to "Hard Money", simply do not apply to eCurrency.

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To a certain extent I agree with what you are saying. However such still makes you involved in interstate and possibly international commerce (imposts) therefore placing you within the power of Congress to regulate.

Let's just say that I am an individual foreign to the United States, and I don't want a payment processor like Paypal making any decisions about whether or not I receive my money from them. How would eCurrency work with CPA networks, affiliate networks, ad networks, and Internet Marketing in general? I doubt any of them are familiar with eCommerce or would pay or be paid with it.

Well, I suppose eCurrency would work along the same lines as game tokens at an amusement park... you buy eCash (tokens) and use them wherever they are accepted... when you decide that you want some money again, just find a place to resell them... I assume you would resell them to the company that you bought them from... for a fee of course.

So, let's say you buy 50 eCash dollars (tokens)... this is no longer real money... so hence is untouchable by financial laws.... use them to buy whatever from whoever accepts them.... when the merchant wants some actual cash, they could sell their eCash back to the source...

I know it sounds a little strange or complicated, but if you really think about it, it is a bit of a financial work around, if it's played out right in the paperwork.

I know I am dredging up a month old thread but I am interested in what you guys think. Is it a safe option? Seems like it might be something cool. I found out they do instant deposits from PayPal to your account.

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